Safety & Health Assessments Lead to Insurance Savings

Service Line

Safety

Situation

We perform annual safety & health assessments for an insurance company that insures the property, general liability, and workers’ compensation for high hazard production facilities. These assessments are performed two times per year to reduce the risk of incidents.

Over 10 years (2010-2020), 2,117 safety & health assessments have been performed, 245,521 criteria items have been assessed, and 22,738 deficiencies/risks identified.

As a result of the continuous assessment process, the average Experience Modification Rate (EMR) of the insured companies is 0.71.

The Result

This means the average insured company has a 29% better than average workers’ compensation loss experience and pays 29% less for workers’ compensation insurance than the average company in their NCCI (National Council on Compensation Insurance) class code. Better put, that is $29,000 saved for every $100,000 paid in workers’ compensation insurance premium annually.